Wildebeests are 4 1/2 feet tall,  weigh over 500 pounds and run 50 miles an hour, but some must die so that the lion can live. The battle for survival is often shown on television, depicting the lion stalking the wildebeest herd, selecting and culling the candidate, creeping in the tall grass and launching like a rocket to catch its meal. We all cheer for the wildebeest to run a little faster or turn just in
Whether you are a landlord or a tenant, lessor or lessee, you need to take action now to keep your business alive in the future and stop events from affecting your lease. First, read your lease. Lock yourself in your bathroom for an hour and don’t come out until you finish reading your lease. Twice. No need to call your attorney. Keep them out of it. Tenants, call your landlord. Landlords, call your tenant. Communicate
  In this article, we examine the permitted uses in various commercial real estate zoning districts for New Orleans including Orleans and Jefferson Parishes. Zoning uses and density can determine feasibility, so gathering this information is imperative before you make an offer. New Orleans commercial real estate development is not a feat undertaken by the weak. The entrepreneurs making things happen today are a special breed. They not only have a vision but an instinct of
volley negotiations are like tennis
Buying, selling and leasing commercial real estate requires lots of different skills, including knowledge of financing, zoning, supply and demand, income statements, and demographics but the most valuable skill is good negotiating. What makes a good negotiator? It is helping all parties involved, who bring to the table different and opposing objectives, agree on the one objective of buying, selling or leasing a property with terms that they may not like but to which they
You can run the numbers to calculate gains or losses from various scenarios, but there is nothing like a visual depiction of risk/reward tradeoffs, especially when it comes to risk in commercial real estate. The hard part is transitioning numbers to something you can see that displays probability and the risk involved with adopting various strategies that may or may not result in a gain. Making decisions in commercial real estate often involves more than
New Orleans commercial real estate developments don’t happen without government help which ranges from New Market Tax Credits, Community Block Grants, Tax Exempt Financing, to Digital Media Tax Credit, Bonus Depreciation, and Tax Abatements. For example, one of the largest developments in New Orleans was a $70 million, 550-unit apartment and retail complex near the Superdome. Here is how the project was financed: New Market Tax Credits provide $4.9 million and Enterprise Zone Rebates provide
Since New Orleans is almost 300 years old, there is plenty of history behind almost every commercial real estate property, and 426 Canal Street is a prime example of this New Orleans Commercial Real Estate with such a fascinating history that locals refer to it by name rather than the address. This property has been known by three names: the Friedricks Building in the late 1800’s, and the Sanlin Building, or the Morris Cigali Building more recently. The
$130 million New Orleans East Hospital
New Orleans is attracting a new industry of media companies, including movie companies and software developers, mostly due to superior tax incentives offered to businesses to relocate to the Big Easy. For example, there is a 25% tax credit for digital media expenditures. That is a dollar-for-dollar tax credit. There is a 50% bonus depreciation and tax exempt financing at a 2% interest rate. There is a tax credit for live performances up to 25%
If you rent space for your business, your lease probably has a clause that makes your rent increase as inflation increases, so be ready to automatically pay a lot more in rent. This article explains how inflation in your lease language is calculated and how to know ahead of time how your rent could increase. The Terms To Know Your lease should have a detailed explanation of how your rent increases with inflation, and lease
OK, Boomer. If you advertise your business name to 845,000 people, would you think one or two people might call you? Not especially, and this article explores why. If you own a business, you have to leverage social media to promote your business and let people know how you can help them; however, not all businesses are helped by advertising on social media. Recently, Louisiana Commerical Realty spent $11,000 to test an advertising campaign using
Louisiana Commercial Realty | Commercial Real Estate Experts
Presented by The Small Business Development Center Reach Customers Online with Google (Live Webinar) If you own a small business and need to reach customers, here is a webinar that can help you. Learn how customers find your business online and how to promote your business using Search Engine Optimization and Smart Campaigns in Google Ads. Topics include: Improving your website’s visibility in Google’s organic search results, on all devices. Creating a free Google My
Louisiana Commercial Realty | Commercial Real Estate Experts
January 2021 commercial real estate prices for the New Orleans/Metairie MSA  increased dramatically for the retail and multi-family lease sectors and shopping center sale sector, but prices declined in office and industrial leasing and office, retail and industrial sale sectors. Demand and supply affected each sector differently which creates opportunities for commercial real estate buyers, sellers, landlords and tenants. Over the last 6 months, over 500,000 square feet has been eliminated from the market for sale
award winning chef andrea
Chef Andrea Apuzzo He has prepared culinary dishes for Queen Elizabeth, Princess Ann, President Carter, Senator Ted Kennedy, Clint Eastwood, Omar Shariff, Sophia Loren, Senator Jack Kemp, Lee Meriwether and Tommy Lasorda. He is Chef Andrea Apuzzo, owner of Andrea’s restaurant and voted One of America’s Finest Restaurants & Outstanding Chefs by Chefs in America. But he is also a real estate investor. Recently Chef Andrea hired Louisiana Commercial Realty to manage leasing for his
Citybusiness magazine recently reached out to Louisiana Commercial Realty broker Robert Hand, to gain insight into a new type of upscale office development in the heart of once was one of the roughest neighborhoods in New Orleans. The high-tech, avant garde development, called “The Stables” transformed three small buildings that were historic horse carriage barns into state-of-the art office space for architects, realtors and interior designers. The development hopes to appeal to a new type
The commercial real estate market in the New Orleans/Metairie MSA has held steady throughout Covid, with prices increasing 5% in the industrial sector, 30% in the shopping center sector and unchanged in the office sector, and decreasing 6% in the retail sector. Over the last 6 months, over 1 million square feet has been taken off the market for lease and an additional 400,000 square feet is now for sale. This article examines the current
Unemployment Chart
The latest unemployment numbers show, compared to one year ago, 32% of 389 city metropolitan areas actually had lower unemployment rates, meaning a higher percent of workers had jobs, leaving 65% with higher unemployment and 3% unchanged compared to 12 months ago. Louisiana Ranks Worst In Unemployment for Its Size The average unemployment rate was 4.5%, and 226 metropolitan cities had rates below average, 150 cities had rates above average and 13 cities equaled the
louisiana positive covid19 cases
map of louisiana positive covid19 cases Louisiana Coronavirus Update 3,315 positive cases with 137 deaths due to COVID19. 3.2 million: Number of adults in Louisiana. 3,315 or 1 in 1000: Have the virus. If you go to Home Depot today, you are around approximately 150 people. Per trip. 927 or 1 out of 3: In the hospital that have the virus. 336 or 1 out of 3: On ventilator that are in the hospital. 137
power plant converted to apartments
The Tax Cuts and Jobs Act of 2017 substantially reduced corporate taxes, from 35 percent to 21 percent. Some commentators and practitioners have voiced concerns about how the new tax law will affect demand for Low Income Housing Tax Credits (LIHTC), America’s primary mechanism for producing new housing. According to Dawn Luke, chief operating officer with Invest Atlanta, the lowering of the corporate tax rate continues to present challenges to the market in terms of
Researching construction activity across 382 metropolitan markets in the United States, data show new office-construction projects were double office renovations from 2003 to 2008, but then everything changed when financing dried up for new construction projects due to the mortgage industry meltdown and collapse of financial institutions. The surprise is that this 2008 trend still affects the office market today. Chart 1 shows the composition of office starts, comparing new office construction starts to office
Snapshot of Industrial Market Prices 12.31.2019 At year end, there are 284 industrial properties totaling 6.3 million square feet for sale and for lease, comprised of 3.3 million square feet in 193 (67%) properties for lease at $5.38 per square foot and 2.9 million square feet in 91 properties (33%) for sale averaging $45.69 PSF. The average property has been on the market 238 days.  At the beginning of the year, there was one less
cities with high unemployment
Chart: Yellow dots show cities with highest jobless rate for September 2019 Of the 51 metropolitan areas with a 2010 Census population of 1 million or more, New Orleans-Metairie had the highest jobless rate in the US at 4.2%, much higher than the 3.3% national unemployment rate which is even lower than the 3.6% rate measured a year earlier. While September unemployment rates compared to 12 months ago were lower in 254 of the 389
Tariffs are bad. Tariffs are passed along to consumers in the form of higher prices which takes money from consumers and gives it to the government. Government spends the money eventually, but it is always an inefficient spender. It used to be that the Republican Party was against making government bigger and always wanted individuals to have control over their money, but things have changed. And this change is bad for business. SIOR The SIOR
The Latest Unemployment Rate of 3.5% Is Only Enjoyed By Half of the States Not all states are enjoying the benefits of September’s 3.5% national average unemployment rate; in fact, 50% of the states have worse unemployment than the average and about 25% have much worse. Only 3 states enjoyed an increase in nonfarm payroll employment: Kentucky, Idaho and Hawaii.   14 States Have The Worse Unemployment Rate 14 States Have The Worse Unemployment Rate
WWL reporter Caresse Jackman just completed a stunning 4 part series called “The Forgotten East: a view into the past, present and future of the largest neighborhood in New Orleans”, and at the end of the last segment, WWL invited Louisiana Commercial Realty to join civic leaders and city councilwoman Cyndi Nguyen for a roundtable heart-to-heart discussion of how to rebuild New Orleans East.   https://youtu.be/7Nw8WWzK8HY Louisiana Commercial Realty president, Robert Hand,  had just completed
New Orleans & Metairie MSA Prices Per Sector Office Market Office Market Overview-New Orleans & Metairie Lease prices for office space in the New Orleans/Metairie Metropolitan Statistical Area averaged $17.78 per square foot, and sale prices averaged $137 per square foot. There are 1,045 office properties for sale or lease and, of those, 895 are for lease and 150 for sale. Last month 32 office spaces were leased, which is above the average of 25 monthly
tariff chart shows loss to consumers
Every college business student learns tariffs are bad for economies that believe in free markets and competition. Every economics textbook charts out how tariffs suck money out of consumers’ pockets. Every MBA class learns it and they even teach it at Wharton. So if there is any government leader out there who attended Wharton and is promoting tariffs, someone needs to verify your degree. At first glance, imposing tariffs or quotas appear to be the
Last week it was reported that the vacant-since-Katrina 197 room Warwick Hotel at 1315 Gravier in New Orleans sold for $8 million, but like so many commercial properties in 300 year old New Orleans, it has a fascinating history including the mysterious death of an owner, a $300 million dollar fraud, Israeli organized crime, a grisly double murder, connections to the president of Israel and also a local prominent attorney, not to mention an uncanny ability to
Can Opportunity Arise From Tragedy? Unless you go back to the 1970’s, New Orleans East has never been an economic driver for the area. Even though it is the largest land area in New Orleans, if you ranked all the cities over 50,000 population by income per capita, the East would rank not in the bottom 10 percent but in the bottom ten. The closest city comparable to its economy is Flint, Michigan. There is
By: Andrew Valenti, Reporter May 17, 2019 Specialty clinics and medical office buildings dot the landscape along Houma Boulevard near East Jefferson General Hospital in Metairie. And along Interstate 10 around the Galleria office building, LCMC Health Ridgelake Health Center, Crescent City Surgical Care and Galleria Medical have opened within the last three years. But while there has been construction related to multifamily housing, extended-stay hotels and retail near the $1 billion University Medical Center
The best single tool that you can use over and over again in a variety of situations to help you make smarter real estate decisions is a mathematical formula called Present Value. You can use it whenever a deposit is made on property to determine the lost income, or when a buyer agrees to pay money sometime in the future to a seller, or in terminating a lease prematurely, or in determining how rent payments might apply
Entergy’s abandoned Market Street power plant Since New Orleans is almost 300 years old, you’d expect some interesting stories behind its more prominent buildings, and the vacant Market Street power plant near the New Orleans Convention Center does not disappoint. Built in 1927, the 5 story coal-fired power plant probably contains asbestos and who knows what else detrimental to life, but it sits on 7 acres just a Mardi Gras bead’s throw from the driving force
Over the last 12 months ending December 2018, inflation, that secretive economic thief that steals your purchasing power, increased 2.2%, continuing to drive the wage price spiral like grandma through a slow school zone, keeping pay raises low and interest rates at the lowest levels in decades. The fat cat donor to this economic bipartisan party has been a decline in energy prices, offsetting the rise in food items, housing and medical care. Not Everybody
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map employment gains
Over the last 12 months, only the large cities with population exceeding 1,000,000 experienced healthy employment gains, according to the latest numbers released by the Department of Bureau and Labor. Employment rose in 76% of the metropolitan areas with a 2010 Census population of 1 million or more, compared to 16% employment growth among all 388 metropolitan areas. Booming Cities Last 12 Months If you are looking for opportunity, these red dot cities are growing.
Employment January 2018 to January 2019
Employment January 2018 to January 2019 The US Bureau of Labor Statistics released the employment numbers as of January 2019, showing employment increased by 304,000 in January, compared with an average monthly gain of 223,000 in 2018. Great news but when you drill down into the data, you will find the news is great for some and not so great for others. You need to add at least 145,000 jobs monthly to keep the economy
industrial price vs SF
by Robert Hand, CCIM, MBA, SIOR Industrial Prices For Lease January 2019 Prices for industrial space for lease in the New Orleans/Metairie Metropolitan Statistical Area averaged $5.28 per square foot as of January 2019, up 1% from 3 months ago and down 3% from 2 years ago. There are 283 industrial properties for sale or lease and, of those, 198 are for lease and 85 for sale. Last month 3 industrial spaces were leased, which is below the 7 average for the
935 Gravier
Louisiana Commercial Realty announces the successful completion of lease negotiations of 9,000 square feet of New Orleans Class A office space to Davillier Law Group, a 10 year old boutique firm with 8 attorneys and plans to expand their current areas of practice which include litigation, real estate, public and commercial finance, mergers and acquisitions, gaming and motion picture tax credit transactions. The law firm’s client list includes national and local real estate developers, entertainers, professional athletes, financial
Baton Rouge vs. New Orleans commercial real estate prices
Is New Orleans the better real estate investment compared to Baton Rouge? The definitive answer is: It depends. For sellers, you want a higher price, measured by square foot. For buyers, you want a lower price. Let’s examine the 5 main categories of commercial real estate. Each category commands a different price because each has a different feasibility, capital investment and return on investment: RetailShopping CentersIndustrialOfficeMulti-Family Retail In the retail sector, which encompasses over 100 categories including clothes,
Louisiana Commercial Realty is a top-rated commercial real estate company, instrumental in rebuilding New Orleans with some of the largest transactions ranging from office leasing to building new affordable apartments and developing French Quarter hotels, but we are a small boutique working mostly from referrals so when our website was hacked it was a real surprise hearing our webmaster say it could be Russians. The hacker got in, bypassed security with encrypted passwords, only to
money bale billboard
One Billboard Outside Ebbing, Missouri Putting a billboard on your commercial property might be the easiest $50,000 you ever made, but, first, don’t let the billboard laws surprise you. Billboards located near a highway are highly regulated and competition is cutthroat among advertising companies because billboards are still a growing advertising medium, even with the decline of brick and mortar and the rise of social media ads through Facebook, Google, Snapchat, Instagram and Pinterest. The best
by Robert Hand, MBA, SIOR, CCIM Lease prices for office space in the New Orleans/Metairie Metropolitan Statistical Area averaged $17.68 per square foot as of April 1, down 1.12% from last month but exactly the same price as one year ago, despite the fact that supply increased 1.53% with 3,749,980 square feet for lease compared to 3,693,478 square feet one year ago. There are 1,101 office properties for sale or lease and, of those, 961 are for
chart: prices of new orleans retail
by Robert Hand, MBA, CCIM, SIOR Louisiana Commercial Realty uses the latest technology to help clients uncover opportunities in commercial real estate, and we are constantly analyzing prices so our clients can be ahead of changes in trends. This article is the first in a series to provide an overview of average prices of commercial real estate. We will drill down into prices and trends in New Orleans, Metairie and Baton Rouge, and review the top
code violations can be managed
Louisiana Commercial Realty has authored more real estate articles than any broker in the state, published by the top commercial real estate and financial organizations, including CCIM, SIOR, Chief Executive Officer, and Personal Financial Planning who distribute articles to thousands of their members. This week, Louisiana Commercial Realty published another article, “8 Things To Do When You Get Code Violations“,  helping commercial real estate brokers advise their clients when properties encounter city code violations, and President Robert Hand
$130 million New Orleans East Hospital
  Louisiana Commercial Realty recently helped Dr. Rashonda Dean, Tulane University graduate and OB-GYN, open a new office in New Orleans East to provide badly needed women’s health care services to the 60,000 people in the area. Dr. Dean has admitting privileges at Touro University and is one of 49 doctors there who specialize in Obstetrics and Gynecology, but she is the only Touro doctor to have an office in New Orleans East. New $130
Office Market For Lease In New Orleans-2014 to 2018
by Robert Hand, MBA, CCIM, SIOR In business school we are taught when the supply of any good or service increases, it will cause prices to fall, but even if you haven’t studied economics you know when there is more of something, prices eventually drop. This is a basic law of economics, introduced in 1691 by philosopher John Locke and refined by Adam Smith in 1776 ; however, somebody forgot to tell New Orleans because for the last 4 years, despite the increase in
chart of prices of office sales
  Prices for sales of office property have increased almost 20 percent per year the last few years while the office lease rate trend has stagnated, according to the latest research from the commercial property database Catylist. That’s good news for new companies looking to get started with an address and lease office space and for existing companies who are outgrowing their current space. It is great news for office property owners who purchased just
Recently the heavy rains caused high water in the streets of New Orleans which seemed to take forever to drain away, and since businesses were impacted by the lack of access by customers and also water damage to their equipment and inventor, TV station WWL interviewed Louisiana Commercial Realty for their expert opinion.
The New Orleans area has seen a wave of investment activity from outside and local developers to restore and put historic, underused and dilapidated properties back into commerce. But a proposed tax reform package from the Trump administration could put future projects in jeopardy. The tax plan doesn’t include the Federal Historic Rehabilitation Tax Credit Program, which currently offers developers a 20 percent credit on qualified rehabilitation expenditures for a building that the National Park
4001 Division
“Third time’s the charm” is the saying, used usually after the first two failures, but Louisiana Commercial Realty has been successful three times in a row at helping engineering companies find the perfect home for their growing company. Recently, Infinity Engineering, a highly successful and growing expert in marine construction with projects including a $25 million mooring dock and a $25 million bio-diesel plant, found a home at 4001 Division Street in a $1.48 million purchase
New Orleans District Attorney
Recently Louisiana Commercial Realty teamed with Orleans Parish Assistant District attorney Michael Danon to get one more criminal off the streets of New Orleans. The crime occurred in 2014, and it took 3 years to get the criminal arrested and to court which culminated this month in a trial before Judge Camille Buras in Orleans Parish Criminal Court where criminal Christopher Karl Stephan pleaded guilty to felony theft and fraud, waiving his right to a trial and
CCIM, the Certified Commercial Investment Member Institute, recently interviewed Louisiana Commercial Realty for their publication on entrepreneurs in commercial estate. Founded over 50 years ago, the CCIM Institute is commercial real estate’s most influential professional organization, with members closing $200 billion annually in commercial real estate deals. The CCIM designation represents the highest achievement in commercial real estate because it usually takes members 3 years to earn due to its rigorous education and testing requirements. The